China

In an online meeting with bondholders this weekend, China Evergrande Group will seek a six-month delay in the redemption and coupon payments of a 4.5 billion yuan bond.

Having warned it might not be able to meet repayments with $82.5 million due on Monday, China Evergrande appears to be heading towards restructuring.

The Chinese city of Chengdu has become the first to announce measures to make it easier for developers to sell properties amid intense pressures on the sector following a debt crackdown by Beijing.

China Evergrande, the world’s most indebted property developer, has averted a destabilising default at the last minute and for the third time in the past month.

Shares in troubled property developer China Evergrande have fallen sharply after plans to offload a stake in one of its units for $2.6 billion fell flat. The collapse of the sale has cast further doubt over whether Evergrande can pull…